Insider Selling: Bridgewater Bancshares (NASDAQ:BWB) Director Sells $850,400.00 in Stock

Key Points

• Bridgewater Bancshares director Jeffrey Shellberg sold 40,000 shares at an average price of $21.26, generating $850,400 and reducing his position by 37.67% to 66,187 shares.
• BWB shares fell 0.8% to $21.46, while the company’s latest quarterly earnings of $0.45 per share matched analyst expectations; revenue came in at $40.89 million versus the $41.43 million estimate.
• Analyst sentiment remains favorable: four analysts rate the stock a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and an average price target of $23.67.

Bridgewater Bancshares, Inc. (NASDAQ:BWB - Get Free Report) Director Jeffrey Shellberg sold 40,000 shares of Bridgewater Bancshares stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $21.26, for a total transaction of $850,400.00. Following the completion of the sale, the director directly owned 66,187 shares of the company's stock, valued at approximately $1,407,135.62. The trade was a 37.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Bridgewater Bancshares Stock Down 0.8%

Bridgewater Bancshares stock traded down $0.18 during mid-day trading on Monday, hitting $21.46. 222,883 shares of the company's stock were exchanged, compared to its average volume of 119,456. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.90. The stock has a market cap of $598.30 million, a P/E ratio of 11.66 and a beta of 0.57. Bridgewater Bancshares, Inc. has a 1-year low of $15.35 and a 1-year high of $22.59. The stock has a 50 day moving average of $20.62 and a two-hundred day moving average of $19.22.

Bridgewater Bancshares (NASDAQ:BWB - Get Free Report) last posted its earnings results on Tuesday, July 21st. The company reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. The company had revenue of $40.89 million for the quarter, compared to analyst estimates of $41.43 million. Bridgewater Bancshares had a return on equity of 11.21% and a net margin of 18.38%. As a group, analysts anticipate that Bridgewater Bancshares, Inc. will post 1.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BWB shares. Stephens upgraded Bridgewater Bancshares from an "equal weight" rating to an "overweight" rating and set a $25.00 target price for the company in a report on Thursday. Weiss Ratings upgraded Bridgewater Bancshares from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, June 18th. DA Davidson reissued a "buy" rating and issued a $22.00 price target on shares of Bridgewater Bancshares in a research report on Wednesday, April 22nd. Finally, Piper Sandler boosted their price objective on shares of Bridgewater Bancshares from $23.00 to $24.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Bridgewater Bancshares presently has a consensus rating of "Moderate Buy" and an average target price of $23.67.

Hedge Funds Weigh In On Bridgewater Bancshares

A number of institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its stake in Bridgewater Bancshares by 78.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,385 shares of the company's stock valued at $38,000 after purchasing an additional 1,046 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Bridgewater Bancshares by 253.6% during the fourth quarter. State of Alaska Department of Revenue now owns 3,851 shares of the company's stock worth $67,000 after buying an additional 2,762 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of Bridgewater Bancshares during the first quarter worth approximately $178,000. LPL Financial LLC boosted its position in shares of Bridgewater Bancshares by 7.8% in the fourth quarter. LPL Financial LLC now owns 11,770 shares of the company's stock valued at $206,000 after acquiring an additional 855 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Bridgewater Bancshares by 14.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,419 shares of the company's stock valued at $218,000 after acquiring an additional 1,535 shares during the period. 65.83% of the stock is currently owned by institutional investors.

Bridgewater Bancshares Company Profile

Bridgewater Bancshares, Inc is the bank holding company for Bridgewater Bank, a New Jersey-chartered community bank founded in 2006. Headquartered in Bridgewater, New Jersey, the company provides a broad array of financial services designed to meet the needs of both individual and business customers. As a locally focused institution, Bridgewater Bancshares emphasizes relationship banking, combining personalized service with the efficiency of modern banking technologies.

The company’s retail banking platform offers checking and savings accounts, certificates of deposit, money market accounts and consumer loan products.

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